Chatham Lodging Trust (REIT)’s (CLDT) “Hold” Rating Reaffirmed at Barclays PLC
CLDT has been the subject of several other reports. BidaskClub raised Chatham Lodging Trust (REIT) from a hold rating to a buy rating in a research note on Tuesday, September 26th. Janney Montgomery Scott began coverage on Chatham Lodging Trust (REIT) in a research note on Friday, September 15th. They set a neutral rating and a $21.00 target price for the company. JMP Securities raised Chatham Lodging Trust (REIT) from a market perform rating to an outperform rating in a research note on Monday, August 28th. Cantor Fitzgerald reaffirmed a hold rating and set a $20.00 target price on shares of Chatham Lodging Trust (REIT) in a research note on Thursday, September 21st. Finally, Zacks Investment Research raised Chatham Lodging Trust (REIT) from a hold rating to a buy rating and set a $24.00 target price for the company in a research note on Friday, October 6th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $21.08.
Shares of Chatham Lodging Trust (CLDT) traded up $0.17 during trading hours on Friday, reaching $22.59. The company’s stock had a trading volume of 236,659 shares, compared to its average volume of 268,997. Chatham Lodging Trust has a one year low of $16.74 and a one year high of $22.60. The firm has a market capitalization of $905.14, a P/E ratio of 10.01 and a beta of 1.03. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.42 and a quick ratio of 1.42.
Chatham Lodging Trust (REIT) (NYSE:CLDT) last announced its earnings results on Tuesday, October 31st. The real estate investment trust reported $0.68 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.01. The business had revenue of $81.40 million during the quarter, compared to the consensus estimate of $80.12 million. Chatham Lodging Trust (REIT) had a return on equity of 3.90% and a net margin of 9.03%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.71 EPS. equities research analysts anticipate that Chatham Lodging Trust will post 2.17 EPS for the current year.
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The company also recently declared a monthly dividend, which will be paid on Friday, November 24th. Investors of record on Tuesday, October 31st will be given a dividend of $0.11 per share. This represents a $1.32 annualized dividend and a dividend yield of 5.84%. The ex-dividend date is Monday, October 30th. Chatham Lodging Trust (REIT)’s payout ratio is 194.12%.
In related news, Director Robert D. Perlmutter sold 2,566 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $20.37, for a total transaction of $52,269.42. Following the completion of the sale, the director now directly owns 33,258 shares in the company, valued at $677,465.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.60% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Northern Trust Corp grew its holdings in Chatham Lodging Trust (REIT) by 65.7% in the 2nd quarter. Northern Trust Corp now owns 1,078,405 shares of the real estate investment trust’s stock valued at $21,665,000 after buying an additional 427,418 shares in the last quarter. Vanguard Group Inc. grew its holdings in Chatham Lodging Trust (REIT) by 8.3% in the 2nd quarter. Vanguard Group Inc. now owns 4,927,364 shares of the real estate investment trust’s stock valued at $98,990,000 after buying an additional 376,788 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in Chatham Lodging Trust (REIT) in the 2nd quarter valued at $5,861,000. Bank of New York Mellon Corp grew its holdings in Chatham Lodging Trust (REIT) by 90.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 610,776 shares of the real estate investment trust’s stock valued at $12,270,000 after buying an additional 289,400 shares in the last quarter. Finally, State Street Corp grew its holdings in Chatham Lodging Trust (REIT) by 28.5% in the 2nd quarter. State Street Corp now owns 1,133,956 shares of the real estate investment trust’s stock valued at $22,774,000 after buying an additional 251,188 shares in the last quarter. Hedge funds and other institutional investors own 79.14% of the company’s stock.
Chatham Lodging Trust (REIT) Company Profile
Chatham Lodging Trust is a real estate investment trust. The Company invests primarily in upscale extended-stay and premium-branded select-service hotels. All of the Company’s assets are held by, and all of its operations are conducted through Chatham Lodging, L.P. (the Operating Partnership). As of December 31, 2016, the Company owned 38 hotels with an aggregate of 5,712 rooms located in 15 states and the District of Columbia.
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